On February 13, 2026 HCW Biologics Inc. ("HCW Biologics") (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company focused on discovering and developing innovative immunotherapies to extend health span by targeting the link between chronic inflammation and disease, and WY Biotech Co., Ltd. ("WY Biotech"), a China-based company specializing in the early-stage development of recombinant protein drugs and gene/cell therapies, today jointly announced the commencement of an exclusive worldwide license agreement covering the development and commercialization rights for certain in vivo applications for one of HCW Biologics’ proprietary molecules, HCW11-006. For additional consideration, the deal also includes an option to license the exclusive Greater China rights to clinical development and commercialization for in vivo applications of HCW9302, HCW Biologics’ clinical-stage molecule currently being evaluated for the treatment of an autoimmune disorder.
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For this venture, WY Biotech and HCW Biologics formed a new operating entity, Beijing Trimmune Biotech Co., Ltd. ("Trimmune"), which is the licensee responsible for the development and commercialization of the licensed molecules. Trimmune is backed by the CITIC Medical Fund ("CITIC"), a multi-billion-dollar investment fund focused on innovative companies primarily targeting pharmaceuticals, biotechnology, medical devices, and diagnostics, and TigerYeah Capital Fund of TigerMed ("TigerMed"), a global leading Contract Research Organization. Trimmune is led by a team with an impressive track record for success in the development and commercialization of innovative drugs that treat diseases with large, unmet medical needs for the Chinese market.
Upon completing the financing agreements with CITIC and TigerMed, Roger Lu, Chairman of Trimmune, stated, "With a strong financial foundation now in place, including receipt of initial funding from TigerMed, Trimmune is now able to begin funding the upfront licensing fee and formally commence our partnership with HCW Biologics. The scientists at HCW Biologics are partners who will make critical contributions to the development of HCW11-006 as well as share in the success of this program through our profit-sharing arrangement for major transactions and its significant equity stake in this joint enterprise. With the expertise of HCW Biologics and TigerMed, and with the strong support of Chinese venture partners, we have the expertise and resource commitments to build a strong clinical development program to treat cancer-related diseases in both the Chinese-NMPA and the US-FDA systems."
Mr. Lu continued, "Based on strong data seen in results of preclinical in-vitro and in-vivo studies, Trimmune expects to initiate a Phase 1 clinical trial in China to evaluate HCW11-006 in the treatment of solid tumors in the first half of 2027. Our strategy is to demonstrate clinical data that we believe will provide significant medical benefits to a large patient population."
Mr. Lu added, "The value of HCW11-006 development, together with Trimmune’s development capability, is well recognized by the venture capital circle, the pharmaceutical industry, and the top oncologists in China." He further said, "Closely collaborating with HCW Biologics, Trimmune believes it will be able to demonstrate HCW11-006’s clinical benefits that will capture the global pharmaceutical industry’s attention, opening the door for further business development opportunities."
Today, Trimmune is initiating payment of half of the $3.5 million upfront cash license fee to HCW Biologics ($1,750,000), with the remainder to be paid on or before March 6, 2026. The $3.5 million upfront license fee, combined with HCW Biologics’ minority co-founder equity position in Trimmune, also currently valued at approximately $3.5 million, constitute consideration for the HCW11-006 license. In addition to the upfront license fee, HCW Biologics is eligible to receive significant development milestone payments and double-digit royalties on future product sales, as well as a portion of the proceeds from future transaction(s) involving the licensed molecule, if and when such transaction(s) occur.
Additionally, HCW Biologics has a payment-free, milestone-free, and royalty-free option to recapture all rights to the development and commercialization of HCW11-006 for in vivo applications in the United States, Canada, Central America, and South America (Opt-in Territory) after the conclusion of the Phase 1 clinical trial in China. If HCW Biologics exercises the option, HCW Biologics and Trimmune will be co-development partners. The parties agreed to build unified clinical programs, and to work together in the business development operations when the HCW11-006 co-development project generates key clinical data, to actively explore business development opportunities with multi-national corporations.
Each party will be financially responsible for all costs associated with research and development, manufacturing, clinical development, regulatory approval, and commercialization for the licensed molecule in its territory. Therefore, expenses to complete the first Phase 1 clinical trial in China will be paid by Trimmune. This arrangement allows HCW Biologics to have direct access to the Phase 1 results without financial responsibility for the cost.
Dr. Hing C. Wong, Ph.D., Chief Executive Officer of HCW Biologics, said, "We are excited that WY Biotech and HCW Biologics have successfully established an entity to laser focus on the development and commercialization of HCW11-006. We believe we have provided Trimmune with a running start in its clinical development efforts. Along with our collaborators, who are leaders in the immunotherapeutic field, HCW Biologics has already demonstrated that HCW11-006 is a highly promising drug candidate as an injectable immunotherapeutic for cancer and infectious diseases."
Dr. Wong continued, "We are also pleased to be working with Trimmune’s seasoned management team. We are satisfied with Trimmune’s capabilities in financing, pre-clinical and clinical development, and business development. HCW11-006 is the first high-potential molecule created with our promising TRBC platform. We will be working closely with Trimmune to continue to develop HCW11-006 with the goal of creating treatments for indications that currently have none available, to benefit a large population of patients."
(Press release, HCW Biologics, FEB 13, 2026, View Source [SID1234662671])